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Transactions With Related Parties | 9 Months Ended
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Sep. 30, 2017
Related Party Transactions [Abstract] |
Transactions with Related Parties | Note 12—Transactions with Related Parties Customer and Supplier Relationships Riverstone Affiliated Companies. Riverstone and its affiliates, including our Sponsor, beneficially own more than 10% of our equity interest and are therefore considered related parties. From time to time, the Company obtains services related to its drilling and completion activities from affiliates of Riverstone. In particular, the Company has paid the following amounts to the following affiliates of Riverstone for such services: (i) approximately $30.4 million and $70.6 million during the three and nine months ended September 30, 2017, respectively, to Liberty Oilfield Services, LLC; and (ii) approximately $1.7 million and $4.0 million during the three and nine months ended September 30, 2017, respectively, to Permian Tank and Manufacturing, Inc. Other Affiliated Companies. Mark G. Papa, our President, Chief Executive Officer and Chairman of the Board, serves as a director and Chairman of the Board of Oil States International, Inc., an energy services company publicly traded on the New York Stock Exchange (“Oil States”). From time to time, the Company obtains services related to drilling and completion activities from Oil States. During the three and nine months ended September 30, 2017, the Company paid approximately $2.4 million and $6.4 million, respectively, to Oil States. At September 30, 2017, included in Accounts payable and accrued expenses on the consolidated balance sheets was $1.5 million due to Oil States. NGP Affiliated Companies. Beginning December 28, 2016, NGP and entities affiliated with NGP were no longer considered related parties of the Company, and any expenses incurred on or after December 28, 2016 with NGP or its affiliates are no longer classified as related party expenses. However, expenses incurred before December 28, 2016 with NGP or its affiliates were classified as related party expenses as NGP beneficially owned more than 10% of our equity interest. Such transactions are detailed below. In May 2016, the Company acquired undeveloped acreage in Reeves County, Texas and an interest in an uncompleted horizontal wellbore for approximately $9.8 million from Caird DB, LLC, an affiliate of NGP. In addition, the Company paid approximately $3.3 million during the nine months ended September 30, 2016 (Predecessor), to RockPile Energy Services, LLC (“Rockpile”). On July 3, 2017, Rockpile was acquired by an unrelated third party and is no longer an affiliate of NGP.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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